Tax Matters: Oyedele reaffirms ‘nobody will debit’ bank accounts of Nigerians

*Taiwo Oyedele, Chairman of the Presidential Fiscal and Tax Reforms Committee, restates ‘nobody will debit Nigerians’ bank accounts, attributing concerns over bank debits to misinformation in the public space

Isola Moses | ConsumerConnect

Sequel to recent volley of misinformation about bank debits in the new tax regime, Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, who stated this this while speaking on a Channels TV’s end-of-year special programme monitored in Lagos, averred no tax authority anywhere in the world has the capacity to pursue every individual.

The Chairman of the Presidential Committee explained that tax enforcement typically targets high income earners rather than low income bank customers in the economy.

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He said: “Nobody will debit your account. Any amount of money you transfer, whether it is N1billion, or N1,000, it doesn’t matter how you describe it. “Nobody will debit your bank account.”

According to him, certain concerns over bank debits have largely been driven by misinformation.

Oyedele affirmed that several Nigerians and groups opposing the tax reforms laws are not in the income bracket targeted by the policy.

“The people that are fighting us the most are the people who don’t have N1 million in their bank accounts.

“You know that the NDIC said 98 percent of bank holders in Nigeria can’t boast of N500,000 in their bank account.

“Those are the people fighting,” said he.

The Chairman said: “I think something we underestimated in this reform, we said the current system is regressive, taxing the vulnerable more.

“Let us make it progressive.

“In fact, there was one of our meetings where we were saying it is going to be hard for these rich people to go out and be protesting because they don’t want people to know that they are rich.”

He further said: “We underestimated how these guys can manipulate the average person to fight the fights on their behalf. “Even against their own interests, that was what played out and it is totally unbelievable.”

The Chairman stated: “There are content creators who admitted they make up to $10,000 a month.

“They don’t want to pay tax. You think they will go and create a content that says they want to tax $10,000 a month?

“They say they are going to debit your bank account, so you can help them fight the reforms.”

Meanwhile, Senator Opeyemi Bamidele, Senate Leader, has urged support for reforms, including tax reforms laws in Nigeria.

The Senate Leader, in his New Year statement, appealed to compatriots to subscribe to what he described as the realistic and foreseeable projections of the new tax obligations in the economy.

Bamidele also described the enactment of the 2025 Tax Reforms Acts as perhaps the most consequential of all reforms in 2025.

He stated that the new tax laws were not initiated to inflict economic hardship on ordinary people as being misconstrued in the public space.

He maintained that they rather aim to bring more resources to the footsteps of the government at various levels for the delivery of more strategic infrastructure that will translate to economic prosperity for generations to come.

The Senate Leader noted: “Nigerians will recall how it took the current National Assembly several months of painstaking scrutiny and late night meetings before the eventual passage of the proposed tax reforms bills.

“The import of this is that our dual objectives of ensuring that the interest of ordinary Nigerians are adequately protected and that Nigeria is not lagging behind in modern tax administration were ultimately achieved at the end of the exercise.”

Rather than falling hook, line and sinker for the deliberate misinformation being peddled about the new reforms by the opposition, I urge every Nigerian to get adequately informed about their ambitious goals and advantages for our collective good, aiming to take more from the rich to cater for the poor in our midst.”

FCT High Court rules against stopping implementation of tax laws

It is equally recalled that a High Court of the Federal Capital Territory (FCT) has declined to restrain the Federal Government from going ahead with today’s timeline for the implementation of new tax laws in the country.

ConsumerConnect reports the FCT High Court in a ruling delivered by Justice Bello Kawu, dismissed an ex-parte motion by the Incorporated Trustees of African Initiative for Abuse of Public Trust.

The group, in the suit, had prayed the court to halt the planned implementation of the new tax laws, pending the resolution of controversies surrounding it.

Justice Kawu held that the court lacked the power to stop the implementation of a legislation already signed by the appropriate authority, without concrete evidence of any wrongdoing.

The Judge also emphasised that the litigant failed to adduce any evidence to warrant the grant of a restraining order against FG.

“I have considered the application together with the affidavit in support.

“I have also considered the submission of the learned counsel for the claimant/applicant together with the judicial authorities cited, and I am of the strong view that the court lacks power to stop implementation of a law already signed by the appropriate authority without concrete evidence of any wrongdoing,” ruled Justice Kawu.

The Judge said: “At this preliminary stage, it will be difficult if not impossible to prove any wrong doing because at this stage, the court should be careful not to touch on the main issue.

“It is my considered opinion that granting injunction at this preliminary stage will be touching the subject matter in the main suit.”

Kawu, held in a Certified True Copy (CTC) of the ruling delivered December 23, 2025, and made available to reporters.

The Judge explained: “It should be noted that once an Act is signed into law, it can only be repealed by the lawmakers or any offending section set aside by the court of law; be that as it may, ex-parte application cannot be used to set aside the coming into force any Act already signed into law or gazetted.

“In view of the above, the implementation of the Tax Act 2025 and other related Acts will commence on January 1, 2026.

The laws continue to be in force pending the hearing and determination of the originating motion before this court.”

The court later postponed further hearing in the case till January 9 , 2026.

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